Do Pay off debts

Pay back the debts and loans that you can afford to pay before you plan to refinance. This may help your credit rating and lower your debt to income ratio when qualifying for a new loan.

Do not Open any new credit accounts

If you are planning to refinance any time soon, do not apply for any new credit card accounts. Too many inquiries can get you a turndown and it will also lower your credit score.

Do Check your credit score

Ask for a copy of your credit score from one of the three credit bureaus (Equifax, Experian and TransUnion) and check it carefully for any mistakes. You can also dispute any miss information on your credit with the bureaus and that may increase your scores as well. The better your credit score the better the loan you can get qualified for.